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Jul 08

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Thursday 8th July 2010 – Just the 1 trade and +20 pips on the train !

Managed to get one setup this morning on cable before I went off to London to smoulder in a sauna of a train…….just a reminder why I don’t do that anymore!

This was an odd trade. Went short at 09:21 @ 1.5155 risking 35 pips. T1 was at 20 pips and T2 was set at 40 pips, just above 200ema on 1hourly chart and S1 Daily Pivot line. I got an almost immediate whipsaw back up to within 2 pips of my stop loss before price reversed back down towards T1 which was hit 90 mins later. By this time though I was on my train to the city and had to monitor events whilst on the move. ….just as my train was coming into Kings Cross I saw that T1 was hit and from my iPhone I moved the stop to Entry and let the trade ride for the last 1/3rd. Price got within 10pips of T2 but then reversed up and I took the trade-off after a new low was not made and the last 1/3rd was taken off for 9 pips. So the max I hit was on the 2/3rds of the trade at 20pips – not quite 1% ! 😉

GBPUSD_080710 + 20 pips on the train

Really pleased with the patience on the trade…..waiting for t1 to be hit and not getting flustered when my SL was being tested……bagged up 14 points out of 16 on my performance rating for this one !

On the way home read a great article about Traders and their lifestyle in the Evening Std – I’ll post a link later if I can find it.

Happy Trading

Jimmy

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Permanent link to this article: http://intradayforextrading.co.uk/2010/07/08/thursday-8th-july-2010-just-the-1-trade-and-20-pips-on-the-train/

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